Wanting to explore other options or find out other financial strategies for trying to build a detached home on our lot without having to refinance out of our 2.75 interest rate with a cash out or doing a HELOC.

Data can be tough sometimes because the numbers can change source to source. 

@Marcel Johnson @Rick AlbertOn Tuesday May 14th we're hosting a meetup in LA which will feature a guest speaker, CPA Edward Markaryan, who will be going over Tax Strategies for Short Term Rental owners.  

As a member myself, I've found it invaluable for honing business strategies in the local market.

I The specific data is dependent on their exit strategy and their max spend.

My go-to with smaller value properties is a commercial loan, which usually is based on either 15% or 20% down and my favorite lender locally for this is currently between 5%-6% depending on the rate-lock period (between 3-10 years) and the loan is amortized over 20 years.That's my go-to strategy. 

I haven't even financed it yet - I've been doing a BRRR strategy which is clearly failing.  

Rental Demand:While Plano has traditionally been a strong rental market, recent data might indicate some softening.

Save for a down payment, check credit, reduce debt, research real estate investing options, build a network, conduct property analysis, make the purchase, negotiate a mortgage, manage the property, consider long-term strategies, create a savings plan, and connect with experienced investors.Good luck!

I want to share with you a strategy that not only unlocks the benefits of assuming existing loans but also pairs seamlessly with another powerful wealth-building tactic - House Hacking.